- Technology leadership and product portfolio underpin broader customer base
- Revenue doubled year-on-year to US$57.1m
- H1 2022 operating profit of US$29.9m compared to restated H1 2021 US$1.3m
- Adjusted EBITDA1 up 67% year-on-year to US$23.2m
- Adjusted EBITDA1 margin at 41%, below H1 2021, as we continue to expand our R&D capability to support a growing pipeline and future revenue growth
- EBITDA significantly above H1 2021 at US$32.7m
- Significant revenue growth expected in H2 2022, with medium-term outlook unchanged and continued confidence in growth prospects
LONDON, United Kingdom and TORONTO, Ontario, Canada 21 September 2022 – Alphawave IP Group plc (LSE: AWE, “Alphawave IP”, “Alphawave”, the “Company”), a global leader in high-speed connectivity for the world’s technology infrastructure, has published its interim results for the six months ended 30 June 2022.
|Financial Summary and APMs1 – US$m||H1 2022||Restated H1 20212||Change|
|Adjusted EBITDA margin||41%||50%|
|Profit after Tax2||16.3||0.1||nm|
|Adjusted Profit after Tax1||6.7||11.4||(41%)|
|Adjusted PAT margin||12%||41%|
|Pre-tax operating cash flow2||32.2||4.7||578%|
|Net cash and cash equivalents (end of period)||451.8||519.1||(13%)|
1 See note 4 Alternative Performance Measures (APMs) on page 21. Adjusted EBITDA and Adjusted Profit after Tax exclude IPO-related non-recurring costs, foreign exchange adjustments, share-based payments, M&A transaction costs and one-time fees associated with WiseWave.
2 H1 2021 operating expenses have been restated by US$2.6m from share premium to non-recurring IPO costs. FY 2021 remains unchanged. This restatement had no impact on H1 2021 APMs. See note 23 for further information.